八马茶业八馬茶業
Bama Tea
Shenzhen-based tea retail chain of an Anxi Tieguanyin family, with over 3,700 shops; Hong Kong-listed since 2025, chaired by a national heritage bearer.
- Kind
- company
- Based in
- Anxi County
- Founded
- 1997
- Brands
- 八马 (Bama)
- 信记号 (Xinjihao, aged pu'er)
- 万山红 (Wanshanhong)
- 赛珍珠铁观音 (Saizhenzhu Tieguanyin)
- 鼎红红茶 (Dinghong black tea)
- 牛一岩茶 (Niuyi rock tea)
History#
- 1997Company established in Shenzhen on 28 July.
- 2009Wang Wenli named a national representative bearer of the Tieguanyin craft (June).
- 2014Converted to a joint-stock company on 10 September.
- 2015Quoted on the NEEQ (to April 2018).
- 2025H shares listed on the Hong Kong Stock Exchange on 28 October.
Also sold or written as 4#
Chinese variants
- 八马茶业股份有限公司 / 八馬茶業股份有限公司 / Bama Tea Co., Ltd.Legal name; H shares listed in Hong Kong (6980) since 2025-10-28.
- 深圳市溪源茶业有限公司 / Shenzhen Xiyuan Tea Co., Ltd.Name of the company Wang Wenli and Wang Wenbin set up in July 1997, per the 2025 annual report.
- 八马茶叶Bama — teaVariant spelling (叶 for 业) in some market news.
Translations and trade names
- Bama
Names and ambiguities#
Anxi family, Shenzhen company
Bama is often called an Anxi company. It is registered and headquartered in Shenzhen, but the family and its main factory are in Anxi. We use Anxi as the region because Shenzhen has no entry and the tea is made there.
Notes#
Founded on 28 July 1997 as a limited company in Shenzhen by the brothers Wang Wenli (王文礼) and Wang Wenbin (王文彬), from an Anxi Tieguanyin family; it became a joint-stock company on 10 September 2014. Wang Wenli, chairman since 2011, was named a national representative bearer of the Tieguanyin making technique (third batch of bearers, June 2009). The company sat on the NEEQ board from 2015 to April 2018, withdrew A-share applications in 2022 and 2023, and listed H shares in Hong Kong on 28 October 2025 at HK$50 (code 6980). It sells every tea category, not just oolong.
Its brands are Bama (about 1.96 billion yuan of 2.19 billion revenue in 2025), Xinjihao (信记号, aged pu'er) and Wanshanhong (aimed at younger buyers). It had 3,773 offline shops at the end of 2025, most of them franchised, and its own factories in Anxi and Wuyishan, with Yunnan named as another base. The 2025 IPO coverage noted that bought-in (OEM) finished tea was about half of purchases in 2019-2021, and that the prospectus listed complaints over advertising and quality.